All-Star Analyst Timothy Winter Issues Recommendations for 4

                            PGN, SCG, FPL and EAS 

  CHICAGO, April 18 /PRNewswire/ -- As the economy recovers, businesses 
across the country will require more energy to increase production.  Timothy 
Winter, 5-Star analyst from A.G. Edwards, gives investors his insight into the 
sector and which companies are the best bets for 2002.  

    (Photo: ) 
      Here are the details on Analyst Timothy Winter's Stock Picks for today: 

Progress Energy Inc. (NYSE: PGN) is a holding company engaged in the 
generation, transmission, distribution and sale of electricity in portions of 
the Carolinas and Florida, as well as the transport, distribution and sale of 
natural gas in portions of North Carolina.  
The Company has acquired Florida Progress Corporation (FPC), a diversified 
electric utility holding company. Florida Power, FPC's largest subsidiary, is 
a regulated public utility engaged in the generation, transmission, 
distribution and sale of electricity.  The company expects to grow its 
business 5% plus per year after these merger synergies are achieved. Winter 
feels this company should add to its earning growth and expects EPS in 2002 to 
be $4.00 and increase to $4.25 in 2003.  His 12-month price target is $54.  
Scana Corp. (NYSE: SCG) is registered as a public utility holding company. 
SCG neither owns nor operates any physical properties, and has 11 direct, 
wholly owned subsidiaries that are engaged in functionally distinct 
With a secure dividend and growing business, Winter expects EPS to be 
$2.45 in 2002, up from $2.15 in 2001 and growing to $2.60 in 2003.  Although 
SCG is trading at its 52-week high, Timothy expects the 12-month price target 
to be 10% greater at $34.  
FPL Group Inc. (NYSE: FPL): Florida Power & Light Co. (FP&L Co.) a wholly 
owned subsidiary of FPL Group (NYSE: FPL) is among the largest and fastest 
growing electric utilities companies in the United States.  
Winter likes the strength and stability of Florida Power & Light Co. and 
the generally supportive regulatory environment. Operational excellence is 
evidenced by 10 consecutive years of declining operation and maintenance (O&M) 
expenses, which are down 40% since 1990.  The estimated EPS for 2002 is $4.85 
and $5.25 for 2003 as FPL adds more customers through its expansion program.  
Energy East (NYSE: EAS): The company's principal energy delivery business 
is transmitting and distributing electricity in New York and Maine and 
transporting, storing and distributing natural gas in New York, Connecticut, 
Maine, Massachusetts and New Hampshire.  
Since EAS doesn't generate electricity, but is a regulated distributor, 
Winter believes they will benefit by a recovering economy and through recent 
consolidations throughout the Northeast.  He feels this is a low risk stock 
that pays a handsome $.96 dividend and expects that to grow between 4%-5% per 
year.  EPS estimates in 2002 are $1.60 and are expected to increase to $1.90 
in 2003.  This earnings and dividend growth make EAS a conservative choice 
with a 12-month price target around $23.  
  To read the entire article with Timothy's sector commentary, go to .  
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SOURCE  Zacks Investment Research  
-0-                             04/18/2002  
/CONTACT:  Terry Batey of, +1-312-630-9880, ext. 307, /  

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CO:  Zacks Investment Research;; Progress Energy Inc.; Scana Corp.;  
 FPL Group Inc.; FPL Group; Energy East 
ST:  Illinois 
-0- Apr/18/2002 10:02 GMT
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